FXStreet reports that economists at Credit Suisse note that GBP/USD has completed a bear “triangle” and they expect the cable to weaken towards 1.3189/35 and potentially 1.2829.

“GBP/USD has collapsed below the lower end of its converging range from late June at 1.3571/67 to complete a bearish “triangle” continuation pattern and we continue to look for further weakness to support at the 38.2% retracement of the 2020/2021 bull trend at 1.3189/35.”

“Whilst we would look for a hold at 1.3189/35 and potentially for some time, the broader risk is seen lower and beneath 1.3135 can see support next at 1.2829.”